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bag battle. would a ban on the bags save the environment or trash thousands of local jobs? >>> we'll tell you about it. >>> wake up europe. >> millions of workers all across europe on strike tonight demonstrated in the streets in more than 20 countries all protesting against major government spending cuts. nearly half the nation's young people are out of work. maybe the protestors want the government to start creating more jobs. >>> riding on the dulles toll road is about to get more expensive. beginning in january the toll goes up from $1.50 to $1.75. tolls will rise from 75 cents to $1. in january 2014, the toll jumps to $2.75. these additional funds will go toward construction of the metro silver line. >>> another live look outside. topper is here after the break with the forecast. >>> law makers looking for answers on that deadly meningitis out break. how bad are plastic bags for our environment? experts from both sides weigh in in tonight's green alert. >>> law makers tonight digging for answers on the meningitis out break. the owner of the new england compounding center that
know the basic military training environment is highly susceptible to the abuse of power, with established institutional safeguards to prevent misconduct by instruct druce. these safeguards are designed to dissuade misconduct very strong as sharp or selection screening and training process and to deter misconduct are an effective system of detection and accountability. leaders play a critical role because they must constantly monitor safeguards for weaknesses and make corrections as necessary. moreover, training is struck druce had a responsibility to uphold our core values and hold themselves accountable for helping to detect those who violate our standards. in a properly functioning system that minimizes misconduct, most instructors will be dissuaded from inappropriate behavior and a few who are not will be detected and held accountable for their actions. leadership will have good insight into the effect of miss that the institutional safeguards and the instruct druce will police themselves. returning now to the three questions of what happened in basic literary trainin
of the regulatory environment, this so-called systemically important financial institutions, too big to fail. you are part of one of those. the fed came out with new capital buffers. jpmorgan and citigroup seem to be -- they are at the top of the list in internships of the buffers, the amount of capital that you are supposed to hold. you have to hold a 2.5% buffer while most other banks have a 1.5% buffer. every time we talk about jpmorgan, people say the fortress balance sheet. you're the strongest bank out there. why is it you have to have a 2.5% buffer when everyone else has a 1.5% buffer? >> anywhere from 0 to 2.5. banks are all different levels. i believe in capital. i believe in liquidity. i think our balance sheet is a fortress balance sheet right now. i never said we actually need the capital. regulators and politicians deemed that has to be necessary. it is what it is at this point. the way it gets calculated is peculiar. if you dig in the calculation, i don't agree with with the way they do that either. it actually penalizes successful companies. it penalizes trade finance. it penalizes
's your take? >> i think those numbers are actually not that bad considering it's been a tough environment. on the bottom line, two cents better shows that the company's actually operating a little better. the issue, really, is related to the stock, which is underperformed so far. it's down 6% last year. down 6% again this year. operationally, they are doing a better job. they also boosted their dividend. when we talk to investors, there seems to be a buyer strike at the moment. investors are concerned about networking and whether that entire market can become monetized and cisco's margins will be decreased. i think what's more important are the details of whether cisco can convince investors that the company can compete in an environment which is becoming increasingly software centric. >> now, you know that gross margins have slid over the past few years. what would signal a reversal in that trend? >> that's a good point. at its peak, gross margins were about 70%. last quarter, they were about 62%. i think more software, better products, and better engineersiengineering of a lot of these
of the impact of nightlife activity and maintaining safe environments. to facilitate the implementation of effective based approaches and nightlife approaches. to have knowledge how these can be managed effectively and network and working on an international and national level so we have a number of different themes. there is certainly an alcohol on alcohol and tobacco and other drugs and how they impact the viernlt. and health and safety standards, emerging trends in club culture, international nightlife tourism, policy and policing and public safety and nightlife associated with nightlife venues, sexual health and preventing violence in these settings and these are a number of themes the commission deals with on a regular basis and as a franciscan i think san francisco has a fair amount to say how we manage it and bodies like the entertainment commission are ways to engage the nightlife and entertainment communities in productive ways and improve public health and public safety, so you have the fliers that has the dates. it's at the mark hopkins hotel and it's going to start on may
at grocery stores or imposed fees for using them. at issue is their effect on the environment. >> reporter: you won't find blastic bags at the checkout counter at bob's market in southern california. they are banned in 50 cities and counties across the state. francine shops with her own reusable bag and wants more communities to enforce similar bans. >> if they went through a garbage dump or a trash site and saw what was going on they would think twice about it. >> reporter: supporters of the ban say plastic bags crowd land fills, pollute streets and waterways and threaten marine life. where plastic is banned like here in santa monica, stores go through piles of paper bags. those also take a toll on the environment but about 50% do get recycled. that's compared to about 5% of plastic bags. but manufacturers say banning the bags is unfair. >> the amount of litter nationally that plastic bags produce is less than half of 1%. >> reporter: marine scientis is with the advocacy group heal the bay and says in los angeles plastic bags make up closer to 25%. >> litter on the streets gets washed thr
heidi, the environment clearly a global challenge, clearly a part of the foreign policy. how does it fit into the economic statecraft? >> it fits into a lot of different things the state department is working on. what we as a relatively new office of seven months and only a few people have been working on are much more than the sort of geographic priorities that the secretary has highlighted, so i probably wouldn't be the best person to speak to this department with a whole host of environmental issues. a lot more time on the year autozone and the relationship and then there's a little bit of a list from the economic analysis perspective that we tend to spend most of our time on. >> all of the subjects but maybe everybody else would like a chance to do that, too. questions? i think there is a microphone here. is there another mic? going once -- if people don't have questions i will ask them. okay. >> the council of the land that. one of the things that we observed both in the atlanta environment and looking at the global companies that has to do with our competitive edge advantage in col
environment will remain unfavorable. in addition, the committee believes that the effective supply capacity of the economy is likely to continue to grow slowly over the forecast period. in october, cpi inflation picked up to 2.7%, partly as a result of higher university tuition fees. the committee's best collective judgment of the outlook for cpi inflation is summarized in chart 3 on page 8 of the report and is based on the same assumptions about monetary policy as chart 1. inflation is likely to remain above target for the first part of the forecast period and is higher than in august reflecting recent outturns and the announcement of large increases in household energy prices. further declines in inflation not being checked by price increases in sectors where market influences are weak. the rising student tuition fees alone added over not .3 percentage points to yesterday's inflation figure and do pestic gas and electricity prices are raising faster than wholesale energy prices. such factors are pushing inflation -- >> the point mervyn king is making there that part of the reason inflatio
in that environment. >> along those lines, michael, what are you waiting for to get back into the stock market in a bigger way right now and get out of bonds? >> i think have you to have the cyclical trade outperform. emerging markets are pretty resilient here. i think that's bullish. you also need to have bond yields rise. we see the ten-year back at 161 despite every single effort by the federal reserve to force reflags back into the system. the bond market has to believe the fed is going to be effective. >> so, for the foreseeable future, you're waiting for some sort of sign the economy -- the growth in the economy and reflation effort is going to take hold, is that it? >> the market has to believe it's going to be enough, by way of context. the fall from apple from peak to where it is now is $100 billion of market cap. $40 billion a month. the numbers are so billing and yet the federal reserve talks in billions when we live in a world of trillions. >> so what's the -- what's the best plan here, then, toward year-end? we have the clarity of the president in the white house but we have no cl
home long a market in an environment where there's -- well, there was uncertainty, obviously, until last the presidency. now we have, you know, continued trauma with what's going on in europe in addition to what's going to happen in washington. clearly, there's just a further divide between one side and the other. that just poses itself that the markets are going to be heading lower. people want to take off. they're not going to be exposed overnight. during the day, it's a lot of back and forth ping-pong and people looking at single stock games and trying to do the best they can. >> yeah, unfortunately all of this uncertainty has led to this sharp decline since the election. s&p capital iq says the market value of all companies on publicly traded exchanges of the major exchanges has dropped by $750 just since november 5th. brian singer, let me ask you about that. would you be poised to put money to work in this selloff, or do you want to get to the sidelines until the dust settles? >> generally speaking, i think the environment is one where you want to look for an opportunity to act
be thriving in an environment where lots of people are worried about their taxes going up year end and the fiscal cliff is starting to get top of mind. you have a stock like walmart which has been a juggernaut, going up in a straight line since april until the recent pullback. then there is a company like -- sell, sell, sell. jcpenney. if you thought things couldn't get worse for jcpenney under the ceo, well, you were very wrong. as the company missed estimates once again on friday, reporting absolutely hideous numbers, they were blinding. sure enough, penney's continued the decline today, down another $2.67, 13%. like the wheel of fortune, where she stops, nobody knows. far more important, just so you know, there is a piece of preferred, there is another corporate piece of paper affiliated with jcpenney and that is sinking like a stone. that is more valuable to tell how bad things at jcpenney are. johnson tried to revolutionize by getting rid of coupons, cutting price as cross the board, they failed tragically and they started issuing coupons again. customers don't trust them. jc
that switch backs are valid and necessary given the operating environment. they have worked on reducing the switchbacks and keeping the public informed and would further denigate service and safety. the jury answers, "that's what we're getting at that muni think it is switch backs are a normal way of business". other transportation systems were aghast, appalled that a transit system could inconvenience their customers so cavalierly and we wanthe
because we cannot supply them with natural gas. instead of russia. in this environment subsidizing wind and solar makes no sense. refi china and india and other emerging economies would sign nine so to reduce emissions i don't take a position nine whether man-made emissions cause global warming and i it china and india to make up 37% of the population not doing so. and the first chapter the book i talk about geo engineering solutions win to think we could reduce global temperatures by just came roofs white to reflect the race. what we're doing with a 12 billion-dollar hours it is pushing people into cars they do not want to buy raising your much as a cost we are getting rid of incandescent light bulbs and disproportionately those zero least able to afford it the lowest fifth of and come distribution spend 24 percent of income on electricity natural-gas and gasoline. that's right. spending on energy and compared to an average of 7%. it it is just strange well-intentioned people who purport to represent advocates policies that will do them harm rather than a good british edition to hurric
not achieve that it make decisions behind closed doors. >> that is what greenpeace is accusing the environment minister of, but he says that a solution needs to be found soon. >> i am still interested in the consensus. concrete steps are not yet decided, but we are running out of time. >> greenpeace wants to explore six underground locations containing clay, granite, and salt rock. >> we will be back in one minute with more news. >> that's right. stick around. >> welcome back. the leader of syria's new oppoition coalition has called from political recognition from europe and special weapons to defeat the syrian regime. >> the common comes as eu foreign ministers and members of the arab league meet in cairo to discuss the serious crisis -- the comment comes. but there's further troop that the syrian president's troops do not intend to give up -- but there was further proof that the syrian president's troops do not intend to give up. >> human rights workers say more than 100 people were killed across syria on tuesday. in cairo, eu foreign ministers have been meeting with representatives of the a
to return profits in 2013, but high fuel costs and a poor economic environment continued to weigh on profits. air berlin is not alone in going through some turbulence. this is not a great time for europe's airlines. >> many are struggling to stay in business. here's a look at the litany of problems they face. >> scandinavian airline sas is fighting for survival. the carrier has not turned a profit in five years. it is not alone. just last week, spain's flagship carrier said it would cut nearly a quarter of its work force in an effort to remain competitive. sas alone plans to cut more than 1/3 of its 15,000 employees. air france is looking to reduce staff to 45,000 workers. and germany's lufthansa is also in the midst of a painful cost- cutting program. earlier this week, the airline struck a deal with unions to raise cabin crew pay in exchange for no strikes over the christmas holidays. >> coming up, we've got some sports news for you. >> first, some other stories making news around the world. three demonstrators have vented their anger at a german consul. he was heading for a meeting with l
. >> translator: in the new environment, our party faces many tough challenges. there are numerous pressing problems within the party and senior ranks that need to be resolved, especially corruption and the acceptance of bribes. >> reporter: xi jinping is taking over the position of general secretary from hu jintao. he will lead the politburo's standing committee, china's main decision-making body. the number of seats on the committee has been reduced to seven from nine. analysts say the party made the change to speed up the decision-making process. xi jinping and another top official, li keqiang, have been on the standing committee since 2007. the rest of the members are new. xi introduced them all during his speech. >> zhang dejiang. yu zhengsheng. liu yunshan. wang qishan. zhang gaoli. >> reporter: the majority of officials on the standing committee are allies of former president who retired from politics nearly a decade ago. they face a number of challenges. one is wrapping up china's slowing economic engine. another is addressing growing social discontent over the widening wealth gap a
a particular worldview and a set of assumptions and values that increasingly in a polarized environment makes it difficult for them to vote for scott brown and linda lingle and heather wilson. the problems with republicans is that they're based -- that's a very ideologically driven voters, tea party folks, but part of the republican base is more open, friendly, to voting for democrats than the democratic base is for voting for republicans, i believe. i'm sure we could chew this over. let me give you an example. but me give you an example. heidi is a terrific candidate in north olympic terrific candidate and north dakota. mitt romney won north dakota by 20, 21 points. and heidi was able to overcome that. it's true that she won them as the president one north dakota, slightly less than president, that mr. romney one north dakota slightly less than the president one massachusetts. but i think the republican coalition includes kind of a soft swing voter that is inclined to vote republican, but is more willing to vote for democrats. and, jim matheson surviving utah is amazing. amazing. john barrow
a tight lending environment. for most investors, access to capital is a real problem. >> how far does it -- >> quite difficult. right now as a private investor, you have to guarantee construction loans and you have to put up 35% he equity of any one project. >> and 35% of his $70 million project for perspective, would be a $24.5 million down payment. >> we've been working on this for six years. >> reporter: so back to mayor reed and his lofty goal, a billion dollars recorded in six months. >> i have no doubt that we can. there's probably more than a billion dollars of opportunities. the question is how many can we get done in six months. >> reporter: reed's claim of billion dollars in opportunities checks out after spiing to some developers willing to hint at the financials for their massive pending projects, low enterprisers is developing a tract of land so large it took us more than a minute to drive around. an urban office campus which they said will cost well north of $100 million just for first phase. across the street by the intersection of 101, ellis partners about to build a 7
or anything but we all know him and he was worried about the regulatory environment that we're going to see in the future, and his thought was that with the people that would be put in place, like-minded people put in place over the next four years it will take 25 before it's gone. i go well we'll both be dead by then. i hope not, but in all likelihood before this reverses, then i went to the liquor cabinet again, and anyway. could it be 25 years before we reverse some of the regulatory? >> i haven't thought out that far but -- >> you're still young. you might be alive. >> perhaps. >> dodd-frank only a third of the rules for dodd-frank have been implemented. >> talk about which ones are coming back. >> we've only just begun. >> which is why the financials sold off yesterday. >>> if you have comments, questions, anything you see on squawk, shoot us an e-mail squawk@cnbc.com, and follow us on twitter. >>> power in the nation, which companies are best equipped to keep your lights on? >>> later, athenahealth jonathan bush, the younger cousin -- anyway, we'll talk about the election results and
" cramer gave you ideas for keeping your portfolio airborne in this environment. what sky high advice is he about to give right now? jim's mad dash is coming up next and romney for president policy adviser lanhee chen. take a look at futures as we start into the open bouncing off three month lows. "squawk on the street" continues right after this. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >> jim and his mad dash talking. this week is a watershed week for nat gas in general. >> cold in new york. 28 degrees. that often can burn off the inventory. clean energy fuels had them on last night. why focus on this? they have a clear growth path to build out stations. lloyd blankfein said in his editorial that key thing for growth in our country is energy. abundant energy. i thought we should look at clean energy that would benefit. markwest, this is a company that has a price above where they d
, abt, the kind of stock you need in this environment. robert in new york. robert? >> boo-yah, jim. how we doing today? >> not a bad day at the office. how about you? >> i'm doing pretty good. long time listener, action alerts member. >> thank you. >> my question, so president obama being re-elected and the drug patent cliffs as backdrop themes, i know you're playing abbott lab and bristol-myers. >> yes, you read it from the trust, thank you. >> yep. i went after an old favorite which is down at the bottom, teva pharmaceuticals. i want your view on 2013. >> let me give you a weird good news about teva. they reported a quarter i didn't think was great and the stock didn't go down. i wanted this stock to bottom for some time. i was using one of their products the other day. they are the greatest generic. people are worried about the ms drug. i think the risk is taken out of the stock. i have to tell you, robert, i don't know about the worries. so you know i think it's inexpensive. i just don't have a catalyst. i'm sorry. let's go to john in texas. john? >> blue sky boo-yah, jim. >> i like
. what is different about this environment is that the bush tax rate will expire. we will revert to the rates under clinton for everyone unless president obama signed an extension. after this campaign, that would be pretty shocking. he ran explicitly but as a candidate to say that he will raise taxes on the top. unless he suddenly decides that, i didn't mean it, it does not really matter all that much what house speaker thinks. the tax cut will expire unless obama is willing to extend it. that changes the whole dynamic. virtually all of the republicans have decided the broker norquist pledged not to raise tax rates. if the tax cuts expire at the end of the year and then in january you extended for 97% of americans, the new never voted to raise tax rates. your only cutting taxes. it is possible for something like that -- when the speaker said that yesterday, it was not really reflecting the world that he now lives in. unless the president is willing to extend the tax cuts, they will not be extended. >> i have a question for you. to what extent will there be a major -- and the repu
in this environment. carl, back to you. >> wednesday is the day when they name the new partners at goldman, i believe. >> that's right. >> people waiting for the call. >> people close to or a source close to goldman sachs says it will be the smallest class in over a decade. probably less than 70 will be named partners at goldman sachs this year. back to you. >> thank you so much. mary thompson at headquarters. a big mover in drilling and natural gas space. >> weatherford this morning off 12% at 3.5 year low. the company warning that fourth quarter is going to come in for earnings below consensus on that number. and they also said that they still have not been able to resolve what they call material weakness in internal controls over financial reporting. they actually didn't break out their third quarter numbers. stock getting hit hard on a day when energy is already to the downside. >> motor trend magazine naming tesla's sedan the car of the year. will the model live up to the hype? we'll find out when tesla ceo elon musk joins us. >> just seven short weeks left to hopefully do a deal on the fiscal c
in this environment? >> reallylar bks. because with all the costs of kline's, you have to get to a certain economy of scale. we have 7,000 banks, many of these banks would not be around in two or three years. >> tom: because of failure or because they will be bought out? >> well, because of not being able to have the economies of scale to manage these compliance cost. you just have to have too many people. and only a bank of a certain size, shape, 500 million, at least a billion dollars. and so many of our banks are under that size, economies of scale. >> tom: that say big sized bank there we've got with independent bank list tonight, kenneth tmas. >> tom: republicans are still reeling from tuesday's loss in the presidential election. it was the fifth out the past six presidential elections where the republican party has lost the popular vote. republicans may have kept control of the house this time around, but they lost seats in the senate. many strategists say the results suggest it's time for the party to rethink how it sells its economic message. sylvia hall reports. >> reporter: tuesday was a
at a normal interest rate, i'm a guy that wants to go 50/50 bond equities, are you saying in this environment i should be 75 equities, 25 bonds because of the risk? >> yeah, i think the problem is nobody is 50/50. today people are sitting at 80% this bonds. 10% quit tis and a little bit of cash. here's the big issue. americans need to retire. 75% of them have already said they don't have enough money. 40% said they'll never have enough money. so they're funding their lon term liability which is retirement 15 years, on average 58 years old, and they're funding it with a security that's at the end of its peak cycle. so usual getting zero rate of return and you're saying i'll fund the liability by an investment that i'm guaranteed to lose money in. the world is more complicated. it's not 50 stock and 50 bond. so you have to say i need to start to move into a more balanced portfolio. the big problem people have is they think it's a binary switch. i go from stocks to bonds. maybe risky people and speculate tors do that. but it means i need to start to lessen my bond position, because more balanced
should be positioning your portfolio in this environment of uncertainty. he manages more than $14 billion for westfield capital. and will, i know you've got interesting thoughts about what's working right now and what people should be doing. which is great, we hear from a lot of people who freeze up at this point, keep things in cash. but you're looking specifically at stocks that might benefit from things like an improvement in the housing industry, which is something we heard yesterday from home depot. >> yeah, exactly. i think the one big difference with the debt ceiling negotiation, for example, the republicans had an incentive to make the current administration look bad because they're trying to win an election, right? well, now with the election over, i think there's an incentive for them not to obstruct. and so i do think something will get done. it'll most likely be a minor deal to buy some time and maybe we get a major deal in 2013. but at the end of the day, i think there'll be some fiscal drag in the first half of '13. rather than sitting cash where you get zero, what can you d
the average reinsurance rate environment will not change based on sandy loss only. >> what's your take on the insurers generally speaking, do you like them as group, what are issues they need to face to see share outperformance? >> it will some quite some time to get some decent estimates. there's uncertainties in many regards and clearly estimates my tend upwards from the current estimates. we just have had a down ground from a hurricane to a post tropical storm. that means deductibles for homeowners basically will be much smaller and losses may be higher. we also have business interruption basically going up. but for swiss re, we have around 400 million of net cap losses and now a budget of 1.4 billion for that. so it shows that fourth quarter will not be hugely impacted from the storm. the real issue for the industry is low interest rates. recurring yields are coming down and the longer we have low interest rates, the longer recurring yields are really heading down to low levels and impacting roes. that's the real issue. >> travelers, primaries will take the biggest hit. how does th
. and in these kinds of environments where we see few details often those are the best deals. it's when everyone has confidence and equity markets are up and everyone is feeling great that they do stupid things. >> right. there you go. >> let's check in with bob pisani here on the floor with more of what's moving this morning. >> boy, did i hear dumb talk over the weekend about going over the fiscal cliff. i guess you were going to hear it. go ahead. let them go over the fiscal cliff. who cares. i heard this even from some people whose opinions i respect. well known economists and columnists. good heavens. did anybody look at what happened last time we were talking about this? the fiscal cliff is a wake-up call to politicians. august 2011, we were all here sitting on this floor when they couldn't agree on simple ability to raise the debt ceiling and they downgraded the debt. remember what happened? the s&p dropped 7% that week on the monday after it dropped another 7%. the vix went to 50 for a long time it stayed there. it ruined it the entire summer. almost the entire year of gains for virtually ev
such as protection of the environment as well as narrowing the gap between rich and poor. but as i said, these are very carefully worded. especially this year. no one wants to say something that is too aggressive or too reformist. because of course there is a pretty powerful group that are against pro market reforms. there are some that benefit, some leaders especially that benefit from the status quo like the officials of state owned enterprises which enjoy some advantages in the form of easier access to loan and less competition. >> if i could ask whether it really matters if the way that we read the tea leaves if it's the reformers or the conservatives here who have more influence in terms of this transition. what he he's the latest view one impact it will have? >> tons of speculation ahead of the roll out on thursday. it's likely going to be a mix of both some reformerses and some conservatives, but you're right in the sense it may not matter in the short term, but long term it will have an impact because some analysts say that the hu jintao administration on the way out did not do
the environment for investment. the corruption piece is amazing. let me tell you, and -- i bet he knows a lot about this. but in the dodd frank bill, there's an amendment called -- lugar. and it makes it through a any -- on the new york stock exchange, it is law that they have to publish what they paid for the mining rights. the truth of it is right now the american petroleum institute is suing the s.e.c. to try and overthrow that. that is astonishing. and i know people in those companies are amazing people, and it's very important, your energy here, and it shouldn't be, and it's not in this case a political issue. europe and america -- europe is going to follow this lead. are going to make this outlandish owe pass to the best of my recollection and if that word doesn't exist, i'd like suggest it to the committee of the oxford dictionary. but the opaque nature of these deals is north of the equator. because when you publish what you pay then the civil societies in those regionens get to hold their government account. that's one of the best things you can do to stimulate business and investmen
practices help ensure our operations are safe and clean for our communities and the environment. we're america's natural gas. soothes you to sleep with ingredients like melatonin. it's safe with no side effects, so you wake up... ready to go. [ male announcer ] unisom natural nights. >>> despite the opposition's new coalition, syria's bloody civil war rages on, you can hear it there. as many as 48 people killed today. 41 in damascus area alone. the syrian government is also slamming the rebels' attempt to unite threatening any effort to topple president bashar al assad will be futile. >>> giving outsiders never before seen look into their country, they are expressing their pain and their hope through paintings. in the midst of a civil war that has taken lives of 35,000 people in 20 months. mohammed jamjoom report oorns o art of war. >> reporter: pain inspired these paintings. here's person who wants to kill another person, says this artist. and here's a person who wants to defend this person from being killed. conflict infuses these canvases, namely brutal civil war raging in his ho
process and with this going on, we will have very difficult environment for investment and growth for the euro area to go ahead. so without clarity where the euro area goes, the environment will be quite difficult. p. >> okay. thanks very much for that. now, he mentioned weakness in europe. that's extending to the u.s. we are seeing futures trying to rebond here, but again, we saw levels of decline in the range of 1.3 to 1.5 yesterday for the major bourses. this morning we're really only getting about 25 points in rebound for the dow jones industrial average. which is thousand sitting at 12,559. the nasdaq and s&p are also showing a little about the of a r rebit of a rebound, but not huge moves. investors digest the growth tigs or lack thereof. spain is trying to move to the up side adding almost 0.3%, so a little better than last time we checked in. the other three down. as we're learning about the slowing of the german economy and the ftse 100, shedding 0.4%, below the 5700 mark. now, we are seeing in the uk a little better, but broadly speaking a mixed picture. we started off s
veterans are in a clean environment. more than 300 janitors at walter reed medical center say they haven't been paid in two weeks. supporters came out to stand in solidarity with the janitors tuesday at a rally in bethesda. 9news spoke with one of the frustrated employees. >> i have done the job. i have complied with their regulations and everything but i'm not getting paid. >> it tends to get frustrating. the federal contractor that employs the janitors says the government hasn't paid them so they can't pay their workers. >>> it is 5:52. making news now, business owners in lower manhattan may not be able to survive superstorm sandy, even those who have made enough repairs to be able to open have seen a dropoff in customers. many stores remain closed and even employees with open businesses are having their hours scaled back. >>> little good transportation news in new york after the big storm sandy. part of the battery tunnel reopened before last night's rush hour. 86 million gallons of water from sandy's storm surge swamped the tunnel which connects brooklyn to manhattan. >>> ocean city'
. this is an environment, the dodd-frank, the market sentiment that demands capital. they do trading. they will have issues. what does this mean for the big wall street firms, if you look at the smallest, it is warm and stanley. this is a firm to watch. i really respect james gorman. a great guy. they still have a capital markets arm. this is what i think will go on at morgan stanley. they will shrink that. they were talking about selling various trading components. i think there is no dow that that will happen did they are the smallest of the wall street players. whenever you hear something about the market, that trading are still there and so taking risk, people sell the stock. you have to worry about people lending you money. watch work and stanley going forward. see how much they adopt the brokerage model. if they stay in the middle here, they will have problems. lori: are you forecasting a breakup for morgan stanley? charlie: they will get out of certain risk-taking circumstances. my gut is, they fell. unloading capital markets. i do not think they will do the whole capital market, but the commodity b
'll see lyric can also give you exceptionally clear, natural sound in quiet and noisy environments because of how it works with your ear's own anatomy. (testimonial section) (testimonial section) (testimonial section) did you know, 94% of people who use lyric would recommend lyric to a friend or loved one. can your hearing aid do all this? lyric can. to learn more about lyric's advanced technology, call or visit trylyric.com for a risk--free 30--day trial offer. you'll also get a free informational dvd and brochure. why wait? hear today what a little lyric cacan do for you. lyric from phonak. life is on. stuart: the news background to today, number one story, not necessarily in terms of importance but china on this the very day when the new number one takes over there. his name is xipang. impressive numbers china expanding again. item two, greece. they want more money, yep, they want more and they want more time to pay back the already enormous debt. riots continue. seconds from the opening bell. right now esee features will be down green. this market is opening lower again. we're down 434
of the regulatory environment possibly telecom because of dividends. so i think there needs to be some adjustment. i don't think this is necessarily the breakdown that causes, you know, a bear market or anything like that. ashley: you say that the tech sector is the best one to positioned the best if you like under the obama administration. what is your reasoning on that? >> sure, if you look at the 10 economic sector groups, technology is probably best positioned under this new environment because, technology shares, technology companies, typically aren't very heavily regulated. so we don't expect any new increased regulation on tech shares. and among the 10 economic sector groups, technology companies have the lowest dividend yields. so that any increase in the dividend tax will impair them less than their couper parts. i think the only area where we could see tech companies stung would be if president obama's plan to tax foreign profits comes back to haunt the group because keep in mind, companies like microsoft and apple pay on average six or 7% in taxes. not 35 that the corporate tax rate is, l
tax environment is the reality in the future is just a matter of what is the order of magnitude, is it rates versus limiting deductions and things like that. whatever you call it, higher deductions are coming. taxes on dividends, capital gains and a look at where the s&p was trading, up 15% or so. people will start to vacate the equity markets and take profits this year while the taxes are lower. it has caused some technical damage. the negative move in equity has driven bonds higher in price. we are kind of responsive to them, in that regard, but we are also responsive to the fact that businesses are finding it very hard to mike forward plans. connell: you also procure up into the mix, the dynamic that is been there for a long time with so we are the best of the worst where the money comes to the united states because other parts of the world is struggling >> absolutely. the aid package did not get passed through. it was supposed to go through the end of the month. they have to issue some bills today. we still have until the end of the month with greece. connell: this so-called
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